Silver 4 Hour Price Update
Updated June 08, 2020 03:18 AM GMT (11:18 PM EST)
Silver closed the last 4 hour candle up 0.84% ($0.14); this denotes the 6th candle in a row an increase has occurred. Out of the 5 instruments in the metals asset class, Silver ended up ranking 4th for the four-hour candle in terms of price change relative to the last 4 hour candle.
Silver Daily Price Recap
The choppiness in the recent daily price action of Silver continues; to start today, it came in at a price of 17.42 US dollars, down 1.38% ($0.24) since the day prior. Out of the 5 instruments in the metals asset class, Silver ended up ranking 4th for the day in terms of price change relative to the day prior. The daily price chart of Silver below illustrates.
Silver Technical Analysis
Volatility for Silver has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. Or to view things another way, note that out of the past 10 days Silver’s price has gone up 4 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.
Overheard on Twitter
Over on Twitter, here were the top tweets about Silver:
- From jeden1g1:
@TheLastDegree Good list. You may want to add Yamana gold to that list as a 12 million Silver ounces per year producer from their mines in Argentina and Chile. They are mostly a gold miner hence their large silver exposure is not priced in yet but will be as silver price goes up.
- From DigitalFrontQ:
If you knew the 17$ silver price was manipulated and fake….. who has the most silver? The banks :). Same banks Trump is taking out so USA. What happens when silver hits 500-1000$+ Richest Country :). If you can buy a few ounces I would before the reset.
- From riskyappetite:
@business .63 silver ounces per panel? Paper silver price to see a 3 bagger w/in 9 months due to myriad reasons IMO. Accumulated silver bullion since March 2017….GLTA